Prevalent - Third-Party Risk Management’s Post

To SOC outsourcers, this is an excellent guide for you to determine who is running your SOC. 3rd party risk is becoming more and more complex, as many choose to have a quick fix and join the bandwagon without properly analysing the external party. It will be too late , if disaster strikes, more over being on the blind side of things. I urge organizations to pay attention to TPR , as this can help you organization to be better informed and prepared. Read this document as it provide a good insight.

ISO 27001 is an internationally recognized information security standard in more than 100 countries. When it comes to third-party risk management, it provides a clear framework for identifying and managing supplier risk. However, how do you know if you're applying it correctly? Join compliance experts Sophie Pothecary and Thomas Humphreys on January 25th as they discuss how ISO 27001 applies to managing third-party risk and strategies to use the framework to measure your TPRM program's success. In this interactive webinar, Sophie and Thomas will: 🤝 Introduce the ISO 27001 standard 🗺️ Define how to map TPRM practices to the Information Security Management System (ISMS) and ISO controls 🔎 Identify which key controls are the most impactful 📊 Examine ways to translate these controls into actionable key performance indicators (KPIs) and key risk indicators (KRIs) 🙌 And more! #TPRM #VendorRisk #RiskManagement #Metrics #ISO27001

SOC has become a widely adopted standard for organizations to evaluate their IT controls. As more third-party vendors and suppliers provide SOC 2 reports instead of comprehensive risk assessments, it is crucial to understand, interpret, and mitigate the risks identified in these reports. The SOC 2 Third-Party Risk Management Toolkit offers four essential resources for navigating SOC 2 guidance. In the first part of this series, we will explore how to effectively use SOC 2 reports to assess third-party risk. #tprm #soc2 #riskmanagement

I developed a guide on risk assessments according to NIST. As of today, 1,019 people have read the guide. NIST provides three triered approach to risk. - Tier 1 for the organization - Tier 2 for the mission or business process - Tier 3 for information systems. 4 step process to risk assessment. 1. Prepare 2. Conduct 3. Communicate 4. Maintain Link to the guide in the comments. What do you think?

SOC has become a widely adopted standard for organizations to evaluate their IT controls. As more third-party vendors and suppliers provide SOC 2 reports instead of comprehensive risk assessments, it is crucial to understand, interpret, and mitigate the risks identified in these reports. The SOC 2 Third-Party Risk Management Toolkit offers four essential resources for navigating SOC 2 guidance. In the first part of this series, we will explore how to effectively use SOC 2 reports to assess third-party risk. #tprm #soc2 #riskmanagement

The AICPA SOC 2 report has become a go-to standard for organizations to assess their IT controls, which vendors can submit as a risk assessment. However, interpreting the reports can be complex, time-consuming, and inconsistent with how other vendors are assessed. So, can you simplify the process of analyzing SOC 2 reports and break them down into consistent and actionable metrics? Join compliance experts Sophie Pothecary and Thomas Humphreys on March 20th as they explore how to use SOC 2 reports in your third-party risk management (TPRM) program and discuss strategies to analyze and leverage the reports to measure your program's success. In this interactive webinar, Sophie and Thomas will: 🔎 Deconstruct a typical SOC 2 report 🎚️ How to map SOC 2 report control exceptions into risks in a common vendor risk and security framework 📊 Examine ways to translate this framework into actionable key performance indicators (KPIs) and key risk indicators (KRIs) The link to register is in the comments!🔗 #TPRM #VendorRisk #RiskManagement #SOC2

Although widely used by third-party vendors and suppliers for risk assessment, SOC 2 reports can be tricky to navigate. Join Prevalent on June 12 for a webinar where our compliance experts will address the most common questions we receive about SOC 2 and TPRM. #TPRM #VendorRisk #RiskManagement #SOC2

Although widely used by third-party vendors and suppliers for risk assessment, SOC 2 reports can be tricky to navigate. Join Prevalent on June 12 for a webinar where our compliance experts will address the most common questions we receive about SOC 2 and TPRM. #TPRM #VendorRisk #RiskManagement #SOC2

Read a few posts on the NIST CSF 2.0 release. Here is my take on integrating with ISO 27001. Integrating both ISO 27001 and NIST offers an ideal blend, leveraging comprehensive risk management strategies and detailed control measures for enhanced security resilience. ISO 27001 mandates organizations to select controls based on risk assessment.

Vendors can use SOC 2 reports as a risk assessment, and the reports can be a tool to measure your TPRM program's success. Register for this webinar to learn more! #TPRM #VendorRisk #RiskManagement #SOC2